The change in equilibrium quantity of a good is more when the buyers are taxed
a. True
b. False
Indicate whether the statement is true or false
False
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The total cost (TC) of producing computer software diskettes (Q) is given as: TC = 200 + 5Q. What is the average total cost?
A) 500 B) 5Q C) 5 D) 5 + (200/Q) E) none of the above
According to Walton and Rockoff, Keynesian economists would probably argue that Keynesian policies failed to alleviate the Great Depression because _____
a. monetary policy was contractionary b. government spending was disproportionately concentrated on poor relief c. supply-side shocks offset Keynesian policies d. Keynesian policies were never tried on a sufficient scale
Studies of data support the view that higher levels of education are associated with higher levels of real
a. interest rates. b. per capita GDP. c. price inflation. d. income decline.
Wayne's Jacket Shop sells Wayne's jackets for $20 each. Wayne finds that his total revenues change according to the number of workers he hires, as shown in the table below.WorkersTotal Revenue1$1,00021,40032,00041,6005800What is the marginal revenue product of the third worker?
A. $667 B. $6,000 C. $400 D. $600